Indian students studying abroad have long considered Canada to be their top choice but recently Indian students perceptions of the country are beginning to change. Due to many reasons Canada has become less favorable for Indian students in the last year. In March 2024 according to IRCC data 4210 Indian students submitted applications for study permits which in comparison to the previous year is 83. 6%. Twenty to twenty-five thousand students applied for study permits in March of 2022 and 2023. Beginning in October 2023 fewer applications were received for study permits. In the last quarter of 2023, 86% of Indian students applied for visas as compared to last year.
The decline in the number of Indian students has had a significant impact on the Canadian economy. 41% of international students come from India. They contribute $1.34 trillion annually to the Canadian economy through tuition fees, accommodation, and living expenses. According to a report by the Canada Bureau of Intelligence Education, international students contribute about $1.34 trillion annually to the Canadian economy.
Punjab students contribute Rs 68,000 crore to Canada's economy. Raj Patel, who has been running a grocery store in Ontario for 8 years, says that most of our products are affordable. Students are one of our main customers. There are many reasons for the change in the study format. These include rising costs of living and employment opportunities.
The inflation rate in Canada was 0.71% in 2021, which has increased to 6.8% in 2023. The government has set the working limit for Indian students to 24 hours per week, due to which it is not possible for students to live a good lifestyle. Young Sharma says that I am able to earn $300 a week from a part-time job. My income is 650 per month, and my grocery expenses are 250. Housing in Canada has also become unaffordable due to the crisis.
The decline in the job market in Canada is creating more difficulties for Indian students. Lack of these hard skills and the fact that Indians are around the age of scholarship further reduces their employment opportunities. Canadas unemployment rate is at 61. 1% the highest in thirty years. There were 2200 fewer jobs in Delhi in April 2024 than there were in April 2024.